The argument-only private property rights system can create the optimal efficiency-is the main viewpoint of Prof. Zhang Wuchang. In the sense, his opinion is right when it is used to analyses traditional private economy, but it will be completely wrong when we deal with modern market economy. According to economic development history, the author believe that public property rights system can create higher efficiency as the same as private property rights system does, on the other hand, the author argued that value is derived from human labor. Except for human labor, no others can create value.
|Original language||Chinese (Simplified)|
|Number of pages||11|
|Journal||Journal of Economics of Shanghai School|
|Publication status||Published - 2003|
- Property right
- Economic efficiency
- Labor-value theory